On 1 July 2017, the SII (Immediate Reporting System) came into effect in Spain. This electronic reporting system must be strictly enforced by the companies concerned, or they risk heavy penalties from the Spanish administration.
The SII requires companies to report outgoing invoices within four days from creation, incoming invoices within four days from invoice being posted, intra-community outgoing invoices within four days from transport date and intra-community incoming invoices within 4 days from the start of transport.
This is done electronically by the use of an XML file.
There are some further criteria but the most important distinction for companies is the turnover. Companies with a turnover of more than 6 million euros per year fall into this category.
This 4 day period is very short for many companies depending on where they come from and their system of reporting. For example, German Amazon sellers that sell their products in Spain and fall under this category are used to report their sales usually every quarter and they would have difficulty in accessing and transmitting these transaction data as promptly as the SII requires.